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Property profile & analytics
FOR SALE
Investment properties
2420 1St Ave N Birmingham, AL 35203
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US03-0505346
For Sale
1 / 18
$2,600,000
2420 1St Ave N, Birmingham, AL 35203
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1925
Total area
14,268 SF
Lot
0.16 ac (7,000 SF)
Zoning code
M1
APN
22-00-36-1-009-013.000
UPID
US03-0505346
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Select Formalwear Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.78M
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.12M
Owner & transaction history
2420 Eat LLC · 3 yrs held
2420 Eat LLC
since 2022
Last sale
$2.3M
3 recorded transactions
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.9M
+78.7%
Medical building
$2.5M
+57.8%
Office building
$2.4M
+48.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Birmingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Birmingham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,775,000
ML approach
$1,780,000
CAP Approach
CAP Return
Estimation
6%
$2,760,000
6.5%
$2,550,000
7%
$2,365,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,610,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,875,000
Change: +79% · Conversion: Moderate
MEDICAL BUILDING
$2,540,000
Change: +58% · Conversion: Easy
OFFICE BUILDING
$2,385,000
Change: +48% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,295,000
Change: +43% · Conversion: Difficult
RETAIL STORES
$1,745,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$2.12M
Range $1.91M – $2.33M · ±10% · vs last sale $2.25M (Dec 21 2022)
Last sale anchor
$2.25M
Dec 21 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$149 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$3,882
Tax year 2022
Assessed value
$70,380
Assessed 2023
Previous assessed
$107,060
-34.3% YoY
Effective rate
5.52%
On assessed value
Assessed land
$22,403
Assessed improvement
$47,977
Land market value
$224,000
Improvement market value
$479,700
Total market value
$703,700
Applied tax rate
30.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1925
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
1
Total area
14,268 SF
Lot
0.16 ac (7,000 SF)
Zoning code
M1
APN
22-00-36-1-009-013.000
UPID
US03-0505346
Jurisdiction
JEFFERSON
Zoning & alternative use
M1 · Birmingham, AL
Zoning M1 · permitted uses
M1 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
2420 Eat LLC
Entity
Mailing address
2420 1ST AVE N, BIRMINGHAM, AL 35203-4304
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2022
$2,254,375
2420 Eat LLC
Burch Properties LLC
Warranty Deed
$1,127,190 · Robertson Banking
Mar 10, 2009
—
Burch Props LLC
Owner Name Unavailable
Grant Deed
related
—
—
—
Burch,major L
—
Deed Of Trust
related
$153,334 · Regions Bk/norcross Ga
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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